The Australian money remittance industry, worth around $7 billion, is currently undergoing a massive shake-up due to the emergence of new online and digital-based players. According to Ashley Jessen, the CEO of Profile Booster, the retail money remittance industry is a top candidate for fintech disruption and innovation. While previously most fintech companies have been focused on creating products and services for investment, wealth creation, and the stock market, there is now a growing focus on payments and money transfer solutions. The remittance sector is set to benefit from more advanced technologies and innovative solutions being launched across the globe.
The global remittance industry is estimated to be around $600 billion, with a majority of transactions still done through physical distribution networks such as money kiosks, remittance centers, or banks. However, online remittance services are also growing. Despite this growth, some traditional methods of international payments, such as those offered by banks, are still slow, opaque, and expensive due to outdated practices and technology.
This is where Flash Payments, an innovative financial technology company based in Sydney, comes in. Flash Payments has engineered an approach to foreign exchange that delivers intelligent, fast, and affordable transfer payments without hidden fees. Using the innovative Ripple technology platform, the company provides extraordinary transparency, speed, and transactional control to users, setting a new level of service standard.
Nicolas Steiger, the founder of Flash Payments, emphasizes the company’s focus on putting a great user experience at the center of the Flash Payments approach. The company enables users to select the transfer date, pick the rate, send funds like an email, and track transfers like a package, all without any surprise charges.
Flash Payments stands in stark contrast to banks, where global payments can be expensive, slow, and opaque due to outdated practices and technology. The company’s technology, rates, transparency, and control make it a great option for both individuals and businesses looking to take control of their foreign exchange transfers.
Flash Payments is transparent, deception-free, and does not charge any hidden fees. Interested parties can learn more about Flash Payments and sign up to benefit from their cutting-edge technology, great rates, transparency, and control.
In conclusion, as the remittance industry continues to grow and evolve, it is important to look to innovative options like Flash Payments, which leverage new technology and practices to deliver a better user experience, faster transfer times, and more affordable rates. With its focus on transparency, control, and efficiency, Flash Payments stands to make a major impact in the money remittance industry.